Moms Starting Their Own Businesses
Moms Starting Their Own Businesses Motherhood is certainly a life-changing event. Our children become the center of our lives, and we must make adjustments to make sure they're cared for. Instead of hiring a babysitter, more and more moms are choosing to start their own businesses so they can be there for their kids and still contribute to the family income. Self-employment offers a certain amount of flexibility. But in most businesses, a certain amount of time outside the home is required. ... Read More
Tags: Moms Starting Their Own Businesses
Category Women in Business
Why It Is Important Not To Panic During This Financial Crisis
Why It Is Important Not To Panic During This Financial Crisis When the stock market opened on Friday, October 24th, everyone was bracing themselves for a major loss. Over and over again, the news reports stated that we are close to a “global recession”. This news, combined with the recent comment that we are experiencing an “economic tsunami”, all but assured financial institutions that the stock market would take a nosedive. While there was only a 3% decline in stock prices, experts ... Read More
Tags: economic disaster survival tips
Category Money Management
Where Should I Invest My Money at this Time?
Where Should I Invest My Money at this Time? Many people are wondering if they should invest their money. If you talk to stockbrokers, they tell you not to sell your existing stocks, but to buy since stocks are quite low. Others may tell you to take all your money out of the stock market and not invest at all. Who is right? Frankly, they are both correct. While you may have invested quite a bit of money in the stock market ... Read More
Tags: economic disaster survival tips
Category Money Management
What Steps Can I Take To Ease This Financial Burden?
What Steps Can I Take To Ease This Financial Burden? During this economic crisis, we have seen retail sales drop, prices on food rise, and the inability to obtain loans from our banks. To this end, here are some steps you can take to ease the financial burden that may cause you great stress. * Establish a household budget and stick to it. Keep contributing to your 401K. Pay down your credit card debt. Utilize cash: if you can’t afford an item, ... Read More
Tags: economic disaster survival tips
Category Money Management
What Should My FICO Score Be to Secure a Loan
What Should My FICO Score Be to Secure a Loan In the world of FICO, in which scores can range from 320 to 850, securing a loan is based on the score as determined by the three credit report agencies. The score also pre-determines what type of interest rate will be applied to said loans. Do you know what your FICO score is? If not, you may want to check as it will have a direct bearing on whether or not you ... Read More
Tags: economic disaster survival tips
Category Money Management
What Should I Do if I Am Suddenly Laid Off?
What Should I Do if I Am Suddenly Laid Off? In a Senate hearing on October 23, 2008, former Fed Chairman Alan Greenspan referred to this financial crisis as an “economic tsunami”. He further stated that he expects unemployment numbers to rise. If you have concerns you may be laid off, there are certain steps you can take now to alleviate the pressure and stress should this eventuality occur. 1. Put away enough money to cover expenses for the next 18 months. 2. Pay ... Read More
Tags: economic disaster survival tips
Category Money Management
What is the Difference between a Variable Annuity and a Fixed Annuity?
What is the Difference between a Variable Annuity and a Fixed Annuity? If you are a teacher and/or work for the Department of Education, you may be contributing to a 401K plan provided by the Teacher’s Retirement System. There are two types of funds you can contribute to: The Diversified Equity Fund (Variable A Annuity Program) or the Fixed Return Fun (Fixed Annuity Program). Here is the difference between the two: In a Variable A fund, the stocks and bonds purchased are from ... Read More
Tags: economic disaster survival tips
Category Money Management
What Is the Difference between a Recession and a Depression?
What Is the Difference between a Recession and a Depression? While a recession may occur after two consecutive quarters where growth is not evident, depression can occur when there are severe changes in the GNP or Growth National Product. For example, the Great Depression saw a decline of more than 10% in GDP or Gross Domestic Product. If you have grandparents or older parents whom you can ask about the 1929 stock market crash in which the GDP fell approximately 33%, they will ... Read More
Tags: economic disaster survival tips
Category Money Management
What is a Reverse Mortgage?
What is a Reverse Mortgage? Have you seen Robert Wagner’s TV ad for reverse mortgages? With the sub-prime mortgage crisis forcing more than 1.5 million people to foreclose on their homes, this may be an alternative you may want to consider. What is a reverse mortgage? According to AARP, it is a loan against your home that you do not have to pay back for as long as you live there. With a reverse mortgage, you can turn the value of your ... Read More
Tags: economic disaster survival tips
Category Money Management
What Is the Rescue Plan?
What Is the Rescue Plan? The Rescue Plan was devised and implemented by Treasury Secretary Paulson. However, when it was first presented at the televised Senate hearings it was only a three-page document requesting $700 billion dollars to be given to Secretary Paulson to be utilized as he saw fit, and without any conditions or judicial consequences. Subsequently, both the House of Representatives and the Senate worked together to come up with a plan that (1) protected the taxpayers' dollars; (2) imposed ... Read More
Tags: economic disaster survival tips
Category Money Management
